LO.6 Lori, who is single, purchased a new copier (five-year class property) for $50,000 DE C I

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LO.6 Lori, who is single, purchased a new copier (five-year class property) for $50,000 DE C I S ION MAKING and new furniture (seven-year class property) for $275,000 on May 20, 2010. Lori expects the taxable income derived from her business (without regard to the amount expensed under § 179) to be about $400,000. Lori wants to elect immediate § 179 expensing, but she doesn’t know which asset she should expense under §

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South Western Federal Taxation 2011 Taxation Of Business Entities

ISBN: 9780538498616

14th Edition

Authors: James E. Smith, William A. Raabe, David M. Maloney

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